Needham starts Galena Biopharma (GALE +4.1%) at Buy with $3.50 price target. When administered...

|About: Galena Biopharma, Inc. (GALE)|By:, SA News Editor

Needham starts Galena Biopharma (GALE +4.1%) at Buy with $3.50 price target. When administered as an adjuvant, the investment bank says the company's breast cancer vaccine NeuVax shows promise. The vaccine is "one of the leading new product candidates" for adjuvant vaccine therapy which analyst Chad Messer says will "become the standard of care for many cancer types." The company recently acquired Abstral, a sublingual tablet indicated for cancer pain which notched $54M in sales in Europe last year, for sale and distribution in the U.S.